The prices in real estate in Bangsar, in the Kuala Lumpur region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Bangsar has increased strongly during the last 6 months. In September, the average price per sq.feet was RM 818. In the following month the price per sq.feet increased to RM 870. In the following two months the price per sq.feet has increased 114 %, going from RM 844 to RM 959.5 per sq.feet. The price per sq.feet has increased 110 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of RM 901.75 to RM 995 during January, and February.
Based upon to the price in Bangsar (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during September, is RM 2,435,973. During October the price went through a considerable rise reaching RM 2,821,635. During the following two months (November, December) the average price had a considerable increase of 125 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 125 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of RM 3,981,871 they are 80 % more affordable than the average price for Bangsar. The properties with the lowest average price have 4 bedrooms, Their price is 6 % cheaper than the average. After that we have properties with 3 bedrooms priced at RM 1,665,934.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of RM 832 / sq.feet, with an average RM 1,037 / sq.feet price in Bangsar. The properties with the highest average prices have 4 bedrooms. They are 12 % more expensive than the average followed by properties with 1 bedroom with a price at RM 1,101 / sq.feet.
The graph displaying the average prices displays the property type "Serviced Residence" as the most affordable one. At an cost of RM 3,981,871 it is 76 % cheaper than the average price in Bangsar. "Office" is seen as the second most affordable property type. The dearest property type is "Bungalow" followed by "Shop". At a price of RM 6,601,122 it is 107 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Office" at an average cost of RM 903 / sq.feet followed by "Condominium" priced at RM 963 / sq.feet. "Shop" is the most costly type of property with a RM 1,351 / sq.feet cost followed by "Serviced Residence" with an average price of RM 1,226 / sq.feet.